Djokovich has won the most Grand Slam finals and somewhat, unsurprisingly, also lost most Grand Slam finals. Everyone hails him as at least a contender for, if not an outright, greatest of all time, but one has even called him the Loser of All Time (LOAT).
The generative AI revolution will dominate the superlatives if it partially fulfills its potential. Not all of them will be positive, though. https://cnb.cx/3Yb52fN has one of its industry veterans warning AI to become one of the biggest bubbles ever. In the week when the researchers found ChatGPT's performance weakening over time, this warning needs more attention.
When many dreams are built, many are bound to be soon busted. The bubble warners will be correct, at least in some sense. The bigger question for long-term investors is whether the technology proves a dud or disappointments will be mostly in pockets of overvaluation, business malfeasance, and harmful side effects.
Generative AI revolution will go down as the most hyped if all we get are chatboxes, enhanced searches, audio/video creations from text instructions, and document summarizers/editors. In other words, if all that we get stays all that we got, it will be crushingly disappointing. While generative AI's content creation abilities are impressive, there must be much more for this to be counted as a decent revolution.
GenAI will go down as a contributor of significant progress if it fulfills the promises of code/programming automation. Chatboxes have unleashed developer productivity and opened doors to No Code AI. The more we can create programs simply through natural language instructions, the more it ensures that GenAI is not mentioned in the same breath as Y2K or Blockchain.
To be considered a revolution on par with the Internet, generative AI must catalyze downstream innovations and contribute to meaningful advancements not achievable solely with human intelligence.
GenAI will likely play a meaningful role in speeding up innovations in robotics, AR/VR, and driverless cars. The accelerator role, however, is akin to that of a supporting cast in a good movie. For real glory, GenAI-enabled entities must cause new products and services - most dreamt in the fields of pharmaceuticals and healthcare. GenAI could play a surprising, positive role in environmental sciences, too.
Like Djoker's Grand Slam loss records, if GenAI turns responsible for extraordinary innovations, it will be responsible for some of the hottest political debates, business excesses, and financial market bubbles in the coming years. The more important thing for all investors to evaluate is whether they prove secondary to the far better, positive story.
